Update: I’ve changed the images below to only show the first 8 years of ownership, since the warranties for batteries tend to end at 8 years, and we have no good idea of what an EV battery will cost in 8 years, nor for how long the batteries will actually last.
So,… when I ran my comparisons of a Ford Focus Electric and Ford Focus S the other day, I thought the Ford Focus S was the most similar non-electric model to the Ford Focus Electric. Woops. After some discussions with readers, it seems the more appropriate comparison (for current Ford Focus options) is the Ford Focus ST, which has a base price of $23,700.
Additionally, readers seemed to make good arguments that maintenance costs really need to be included in these comparisons. So, without running through all the text in this post that I included in the other one, let’s quickly jump to some comparisons based on a similar variety of assumptions but with these changes incorporated (followed by a bunch of other considerations, mostly brought up by readers, that you really should consider):
Ford Focus Electric vs Ford Focus ST
Two assumptions that stay constant below are that the Ford Focus Electric has a combined MPGe rating of 105 and the Ford Focus ST has a combined MPG rating of 22. I also keep constant the assumption that average additional maintenance costs per mile (for the Ford Focus ST) = 4¢. Also, figures listed below are for the total cost at the end of the year. These factors as well as the ones I change below can be changed in this spreadsheet.
Example 1
Assumptions:
- average miles driven per year = 20,000
- average price of electricity when charging your EV = 12¢/kWh
- average price of gas per gallon = $4.50
- tax rebates = $10,000
Result: start saving money in year 2 (not including health savings and the many other factors listed at the end of this post).
Example 2
Assumptions:
- average miles driven per year = 13,476
- average price of electricity when charging your EV = 12¢/kWh
- average price of gas per gallon = $3.50
- tax rebate = $7,500.
Result: start saving money in year 5 (not including health savings and the many other factors listed at the end of this post).
Example 3
Assumptions:
- average miles driven per year = 20000
- average price of electricity when charging your EV = 12¢/kWh
- average price of gas per gallon = $3.50
- tax rebates = $10,000.
Result: start saving money near the end of year 2 (not including health savings and the many other factors listed at the end of this post).
Example 4
Assumptions:
- average miles driven per year = 13476
- average price of electricity when charging your EV = 6¢/kWh
- average price of gas per gallon = $5.00
- tax rebate = $7,500
Result: start saving money in year 3 (not including health savings and the many other factors listed at the end of this post).
Example 5
Assumptions:
- average miles driven per year = 15,000
- average price of electricity when charging your EV = 12¢/kWh
- average price of gas per gallon = $4.50
- tax rebate = $10,000
Result: start saving money in year 2 (not including health savings and the many other factors listed at the end of this post).
Some Financial Factors Not Included
Sales tax (varies by state), interest rate if not buying the car up-front, availability of free EV charging, purchase of Level 2 EV charger, healthcare savings, depreciation rates, insurance rates, eventual need to replace/exchange the battery (after 8-12 years), state or local tax incentives (except in the last scenario) — I know some states offer an extra $2,500 off. To play with a spreadsheet that allows some modification of those, this Nissan Leaf driver has one you can download.
You can also play around with the assumptions in my spreadsheet.
Other, Non-Financial Factors
Now, as one of our readers noted, many (or even most) people don’t simply choose a car based on price. Surely, price is normally a factor, but not always the most important factor. Here’s a list of pros and cons for an EV versus a gasoline-powered car:
Pros
- Super quiet.
- Smoother ride.
- Ridiculous torque.
- Not have to worry about gas price swings/jumps.
- Ability to fuel at home (never visit a gas station again) — big time cost savings there (and also savings from not buying snacks at the gas station, one of our readers noted).
- Better health from not being as exposed to pollutants.
- Not having to mess with oil changes, smog checks, timing belts, etc.
- Helping the world (including your children and grandchildren) by fighting global warming.
- Helping improve national security by reducing our dependence on oil.
- Potential ability to engage in vehicle-to-grid projects.
Cons
- Charging opportunities are not as widespread as gas stations.
- The range on a full tank of fuel is lower for an EV.
Others you can think of?
good report! Try factoring in solar, Ford has a program to purchase 1.5 kw solar w/ Focus.
Thanks. Good call. Would vary a ton, but it’s another good point an individual can (& should) factor in. 😀
.12 cents a kw ? Maybe if your in Hawaii. Im paying .07 cents normally, and most cities offer deals for those who EV cars, im paying .04 cents a KW. As far as the charger, there is a federal rebate till Dec 2013, which for personal you get $1000 back and for business a max of $30,000. (With my Focus Electric im getting 88-91miles on a charge)
12 cents is the national average. the average in Hawaii is actually 36 cents for residential! http://www.eia.gov/electricity/monthly/epm_table_grapher.cfm?t=epmt_5_6_a
you’re obviously on the other end of the spectrum. i’m actually curious where you live, since your paying less than the average in any state.
Im in Las Vegas, NV (Spring Valley). And like I said you have to contact your electric company as they get Federal grant money to provide cheaper rates to EV owners. (here is ours for NV: https://www.nvenergy.com/home/saveenergy/electricVehicle.cfm )